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Group 6 Metals Dolphin Tungsten Mine achieves record monthly production

16 April 2024 11:37
ASX: G6M

Group 6 Metals Limited (ASX:G6M) has announced significant milestones in the operational activities of its wholly-owned Dolphin Tungsten Mine (DTM) located on King Island, Tasmania, setting new records across ore mining, processing, tungsten concentrate production, and sales.

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Ore mined

March marked a pivotal phase for DTM’s mining operations as the mine transitioned towards reaching its nameplate capacity, facilitating access to higher-grade tungsten trioxide (WO3) ore materials.

However, an interim modification in the operational mining sequence led to the temporary deferment of mining from the high-grade ore zones.

Despite this, the mining operations achieved a significant milestone by extracting a record 49,609 tonnes of ore in March, with an average WO3 grade of 0.48%.

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Ore processed

Following the refurbishment of two ball mills in February, March witnessed a full month of production, setting new records for monthly throughput at 43 tonnes per hour and plant utilisation of 77%.

Consequently, the volume of ore processed reached 24,515 dry metric tonnes, marking a steep increase of 49% compared to February and 44% above the previous record month in November 2023.

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Tungsten concentrate production & sales

During March, approximately 97 dry tonnes of tungsten concentrate was produced with an average grade of 60% WO3.

Similarly, 93 dry tonnes of concentrate was shipped during the month at a slightly lower grade of 59% WO3.

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These figures represent a record tungsten concentrate production of 5,678 metric tonne units, marking a 23% increase compared to February.

Record production also translated into record sales, reaching 6,335 metric tonne units, an 83% increase compared to February sales and 23% above the previous record month in December 2023.

Amidst these achievements, the ammonium para tungstate CIF Rotterdam prices remained stable during March, currently sitting at US$305 – 320 per metric tonne units (10 kg of WO3).

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CEO commentary

Group 6 Metals Managing Director & Chief Executive Officer, Keith McKnight, expressed satisfaction with the substantial improvements witnessed across all operational aspects last month, noting the breaking of numerous records.

“March results have seen significant improvements across all facets of the operation, and a number of operational records have been broken.

“These improved results have been the result of a lot of hard work by our employees and contractors. The team is focused on maintaining the mining team’s momentum and improving the throughput and recoveries from the plant,” he said.

The company is continuing its efforts to ramp up tungsten concentrate production and prepares for the commencement of underground mining operations in 2026.

“I am looking forward to mining and processing the higher-grade ores, which will improve recoveries and, subsequently, the tungsten concentrate produced and sold,” McKnight added.

G6M’s Australian Security Exchange-listed share price is currently trading at $0.054 (11:30 am UTC+ 8 hours).

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